The International Trade Centre (ITC) said Tuesday that it has launched the Market Price Information portal, an online database giving access to live updates and prices for more than 100 agriculture products.
The portal was launched with a view to improve transparency in trade and help improve the decision-making processes for micro, small and medium-sized enterprises (MSMEs) to export, said the ITC.
The Market Price Information portal will also provide research and up-to-date agricultural commodities news.
“Access to real-time and sector-specific market price information will help strengthen the ability of MSMEs to make decisions and anticipate shifting trends in international markets,” said ITC Executive Director Arancha Gonzalez.
She said the Market Price Information portal will help them become more competitive, make it easier to connect to global markets, and enable them to grow their businesses.
The portal has been developed in response to a growing need among MSMEs and small-scale farmers for access to up-to-date market information.
In developing countries, in particular, access to such information is often scarce, unaffordable, inaccessible or out of date, said the ITC.
By providing timely information on prices free of charge, the Market Price Information portal will better enable MSMEs and farmers to stay updated, make sound business decisions, and boost their competitiveness.
The portal will help them become more competitive, make it easier to connect to global markets, and enable them to grow their businesses.
The Geneva-based ITC is the joint agency of the World Trade Organization and the United Nations and it assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets.